Bank of Georgia Financial Analysis

GROWING INCOME NOTWITHSTANDING THE PRESSURE ON YIELDS Loan Yields | quarterly Loan Yields | full-year Banking Business 120% Banking Business 14.3% 13.5% 12.8% 15% 14.7% 14.2% 14.2% 120% 13.5% 15% 100% 100% 80% 10% 61.7% 60.7% 80% 10% 61.7% 60% 61.7% 61.7% 60% 72.0% 71.3% 40% 5% 40% 5% 20% 38.3% 39.3% 38.3% 20% 38.3% 38.3% 28.0% 28.7% 0% 0% 0% 0% 4Q17 3Q18 4Q18 2015 2016 Net loans, FC, consolidated Net loans, GEL, consolidated Currency-blended loan yield, annualised Loan Yields, Local currency | quarterly I Net loans, FC, consolidated Currency-blended loan yield 2017 2018 Net loans, GEL, consolidated Loan Yields, Foreign currency | quarterly Banking Business Banking Business 22% 21.3% 12% 10.0% 21% 19.9% 19.7% 10% 9.0% 8.3% 20% 8% 19% 6% 18% 4% 17% 16% 2% 15% 0% 4Q17 3Q18 4Q18 4Q17 3Q18 4Q18 BANK OF GEORGIA 15

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